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PUBLISHER: IMARC | PRODUCT CODE: 1675443
PUBLISHER: IMARC | PRODUCT CODE: 1675443
Cloud-Based Payroll Software Market Report by Component, Organization Size (Large Enterprises, Small and Medium-sized Enterprises ), Industry Vertical, and Region 2025-2033
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PAGES: 138 Pages
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The global cloud-based payroll software market size reached USD 10.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 19.1 Billion by 2033, exhibiting a growth rate (CAGR) of 7.15% during 2025-2033. The increasing threat of data breaches, rising demand for efficient and accurate payroll processing, the surging need to ensure regulatory compliance among organizations, and continual technological innovations represent some of the key factors driving the market.
Cloud-based payroll software is a contemporary solution designed to manage, organize, and automate the process of paying the salaries of a company's employees. This software is hosted on remote servers operated by the software provider, ensuring the data is accessible from anywhere with an internet connection. Unlike traditional payroll systems that require in-house management and constant updates, cloud-based payroll software offers flexibility and scalability. It provides automated calculations of salaries, tax withholdings, and deductions, saving time and reducing the potential for human error. It also facilitates compliance with local, state, and federal laws, assisting in generating necessary reports and forms. It usually features user-friendly interfaces and integrates with other business systems, such as human resources and accounting, to ensure seamless data flow. Additionally, real-time updates allow payroll queries and changes to be addressed promptly and effectively. As a result, cloud-based payroll software has gained immense traction as a comprehensive, secure, and scalable solution for improving payroll management efficiency and enabling businesses to focus more on their core operations.
Cloud-Based Payroll Software Market Trends:
Cloud-based payroll software employs robust security measures, such as encryption and multi-factor authentication, to facilitate the secure storage of sensitive employee information. Consequently, the increasing threat of data breaches across the globe represents one of the key factors driving market growth. Moreover, the rising need for efficient and accurate payroll processing, coupled with the surging adoption of cloud technologies, has led to a significant shift toward cloud-based payroll systems among businesses. Along with this, amid the sudden outbreak of the coronavirus (COVID-19) pandemic, a rise in remote work that necessitates more flexible and accessible solutions for managing payroll has augmented the demand for cloud-based software as it can be easily accessed and operated from anywhere. Additionally, the increasing product utilization by organizations, especially small and medium-sized businesses, owing to its cost-effectiveness and scalability, has accelerated the product adoption rate. Besides this, the surging need to ensure regulatory compliance among organizations is contributing to market growth as cloud-based payroll software can effectively navigate complex and ever-changing payroll tax laws and regulations. Furthermore, the leading players are integrating payroll software with other business applications, such as human resource management systems (HRMS), enterprise resource planning (ERP), and accounting software, to enable a seamless data flow between systems, boost efficiency, and minimize the chances of errors. In line with this, the incorporation of artificial intelligence (AI) and machine learning (ML) into cloud-based payroll software to make the systems more intelligent and automated, allowing them to predict trends, detect anomalies, and make suggestions while streamlining the payroll process has propelled the market growth. Other factors, including the advent of Industry 4.0, growing awareness about the benefits of automation and reduced reliance on manual processes, escalating demand for mobile access, rapid digitization, and continual technological advancements, are also creating a positive market outlook.
Key Market Segmentation:
Component Insights:
- Software
- Services
Organization Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Industry Vertical Insights:
- BFSI
- Manufacturing
- Telecom and IT
- Healthcare
- Retail
- Hospitality
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for cloud-based payroll software. Some of the factors driving the North America cloud-based payroll software market included the increasing adoption of app-based payroll software, rising penetration of cloud-based technologies, rapid digitization across end use sectors, technological advancements, etc.
Competitive Landscape:
- The report has also provided a comprehensive analysis of the competitive landscape in the global cloud-based payroll software market. Detailed profiles of all major companies have been provided. Some of the companies covered include Automatic Data Processing Inc., Ceridian Hcm Holding Inc., Elmo Software Limited, Oracle Corporation, SAP SE, The Sage Group Plc, Ukg Inc., Xero Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global cloud-based payroll software market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global cloud-based payroll software market?
- What is the impact of each driver, restraint, and opportunity on the global cloud-based payroll software market?
- What are the key regional markets?
- Which countries represent the most attractive cloud-based payroll software market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the cloud-based payroll software market?
- What is the breakup of the market based on the organization size?
- Which is the most attractive organization size in the cloud-based payroll software market?
- What is the breakup of the market based on the industry vertical?
- Which is the most attractive industry vertical in the cloud-based payroll software market?
- What is the competitive structure of the global cloud-based payroll software market?
- Who are the key players/companies in the global cloud-based payroll software market?
Product Code: SR112025A8249
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Cloud-Based Payroll Software Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Software
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Services
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Organization Size
- 7.1 Large Enterprises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Small and Medium-sized Enterprises (SMEs)
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Industry Vertical
- 8.1 BFSI
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Manufacturing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Telecom and IT
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Healthcare
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Retail
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Hospitality
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Automatic Data Processing Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Ceridian Hcm Holding Inc.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 Elmo Software Limited
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Oracle Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 SAP SE
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 The Sage Group Plc.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Ukg Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 SWOT Analysis
- 14.3.8 Xero Limited
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.1 Automatic Data Processing Inc.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Product Code: SR112025A8249
List of Figures
- Figure 1: Global: Cloud-Based Payroll Software Market: Major Drivers and Challenges
- Figure 2: Global: Cloud-Based Payroll Software Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Cloud-Based Payroll Software Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Cloud-Based Payroll Software Market: Breakup by Component (in %), 2024
- Figure 5: Global: Cloud-Based Payroll Software Market: Breakup by Organization Size (in %), 2024
- Figure 6: Global: Cloud-Based Payroll Software Market: Breakup by Industry Vertical (in %), 2024
- Figure 7: Global: Cloud-Based Payroll Software Market: Breakup by Region (in %), 2024
- Figure 8: Global: Cloud-Based Payroll Software (Software) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Cloud-Based Payroll Software (Software) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Cloud-Based Payroll Software (Services) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Cloud-Based Payroll Software (Services) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Cloud-Based Payroll Software (Large Enterprises) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Cloud-Based Payroll Software (Large Enterprises) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Cloud-Based Payroll Software (Small and Medium-sized Enterprises (SMEs)) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Cloud-Based Payroll Software (Small and Medium-sized Enterprises (SMEs)) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Cloud-Based Payroll Software (BFSI) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Cloud-Based Payroll Software (BFSI) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Cloud-Based Payroll Software (Manufacturing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Cloud-Based Payroll Software (Manufacturing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Cloud-Based Payroll Software (Telecom and IT) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Cloud-Based Payroll Software (Telecom and IT) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Cloud-Based Payroll Software (Healthcare) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Cloud-Based Payroll Software (Healthcare) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Cloud-Based Payroll Software (Retail) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Cloud-Based Payroll Software (Retail) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Cloud-Based Payroll Software (Hospitality) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Cloud-Based Payroll Software (Hospitality) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Cloud-Based Payroll Software (Other Industry Verticals) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Cloud-Based Payroll Software (Other Industry Verticals) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: North America: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: North America: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: United States: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: United States: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Canada: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Canada: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Asia-Pacific: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Asia-Pacific: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: China: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: China: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Japan: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Japan: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: India: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: India: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: South Korea: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: South Korea: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Australia: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Australia: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Indonesia: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Indonesia: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Others: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Others: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Europe: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Europe: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Germany: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Germany: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: France: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: France: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: United Kingdom: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: United Kingdom: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Italy: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Italy: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Spain: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Spain: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Russia: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Russia: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Others: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Others: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Latin America: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Latin America: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Brazil: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Brazil: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Mexico: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Mexico: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Others: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Others: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Middle East and Africa: Cloud-Based Payroll Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Middle East and Africa: Cloud-Based Payroll Software Market: Breakup by Country (in %), 2024
- Figure 78: Middle East and Africa: Cloud-Based Payroll Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 79: Global: Cloud-Based Payroll Software Industry: Drivers, Restraints, and Opportunities
- Figure 80: Global: Cloud-Based Payroll Software Industry: Value Chain Analysis
- Figure 81: Global: Cloud-Based Payroll Software Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Cloud-Based Payroll Software Market: Key Industry Highlights, 2024 & 2033
- Table 2: Global: Cloud-Based Payroll Software Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 3: Global: Cloud-Based Payroll Software Market Forecast: Breakup by Organization Size (in Million USD), 2025-2033
- Table 4: Global: Cloud-Based Payroll Software Market Forecast: Breakup by Industry Vertical (in Million USD), 2025-2033
- Table 5: Global: Cloud-Based Payroll Software Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Cloud-Based Payroll Software Market: Competitive Structure
- Table 7: Global: Cloud-Based Payroll Software Market: Key Players
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